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Quotes & Info
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| WEST > SEC Filings for WEST > Form 8-K on 5-Sep-2012 | All Recent SEC Filings |
5-Sep-2012
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or St
As previously disclosed, on August 17, 2012, the Company received written notification from the Listing Qualifications Department of the NASDAQ Stock Market (NASDAQ) indicating that the Company failed to comply with the minimum stockholders' equity requirement of $2,500,000 for continued listing on the NASDAQ Capital Market set forth in NASDAQ Listing Rule 5550(b)(1). On August 24, 2012, the Company submitted a plan requesting an extension of time to regain compliance. On September 4, 2012, the Company's request for an extension of time was denied and the Company was notified that its shares will cease trading on NASDAQ Capital Market as of the open of trading on September 6, 2012.
Beginning on September 6, 2012, the Company's shares will begin trading on the OTCQB Marketplace and will continue to trade under the symbol "WEST."
On September 4, 2012, the Company filed its Definitive Proxy Statement with the SEC notifying shareholders of a Special Meeting to approve an amendment to the Company's Certificate of Incorporation to effect a reverse stock split of its common stock to not exceed a one for eight ratio. As a result of the NASDAQ determination to cease listing the Company's shares on NASDAQ, as referenced in Item 3.01, the Company has decided that it will not seek shareholder approval for a reverse stock split, and is cancelling its September 13, 2012 Special Meeting.
(d) Exhibits
Exhibit
Number Description of Exhibit
Press Release announcing trading on OTCQB Marketplace and merger
99.1 status update, dated September 5, 2012 (furnished herewith).
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